While this news comes as no surprise to me, I wonder how many are actually getting it. Especially with the LSM constantly lying about recovery being right around the bend or happening. But the indisputable fact is that some of the people that where the most smitten with the collectivist community organizer and his message of “Hope & Change” now are the ones suffering the most from the politics that flow from those beliefs and policies.
Economy: President Obama surfed into office on a wave of support from the nation’s youth. And what did those young voters get in return? Sky-high unemployment, lower wages, fewer prospects and a student debt crisis.
It’s fair to say that just about everyone has suffered the ill effects of Obamanomics, which has produced growth rates during the 31-month “recovery” that are far below any in modern times.
But a new report out of the Pew Research Center shows that when it comes to economic pain, young workers trying to get a start in life have suffered the most. Among the grim statistics:
The unemployment rate among 18-to-24 year olds was 16.3% at the end of last year, compared with 8.8% for the rest of the working-age population. That gap in unemployment rates, the Pew study notes, is “the widest in recorded history.”
Meanwhile, the share of this population that’s managed to find work has fallen to 54.3% — the lowest level since 1948, the first year the government started collecting such data.
Young workers are also doing far worse than everyone else when it comes to income. Between 2007 and 2011, their real median weekly earnings fell 6%. By comparison, those between the ages of 35 and 64 saw earnings climb 1%, while everyone else saw earnings dip slightly by 0.1%.
I guess I could take consolation that there is justice in the universe and stupid people get punished for doing stupid things, but that is unfortunately not enough, since we all are paying for their stupidity. I told many people when Obama was elected, that I expected 4 years of Obama to teach most of his voters, but especially the young that broke in great numbers for him based on his thin resume and teleprompter skills, the same things 4 years of Carter did. I firmly believe that Obama is making many of us that experienced both time periods think Carter was not that bad.
The thing is that anyone that wanted to know the young where going to get hammered only needed to look at Europe, where they do things in a way Obama wants to reform America to be like, for proof. It is well documented that unemployment in Europe, even during boom times, is very high, and amongst the young in Europe is always sky-high. And there is no disputing that is a direct consequence of liberal policies and economics. Well, OK, liberals will dispute it: they always do. But the fact remains that government meddling to control wages, dictate benefits, and to control which businesses win and which lose, always results in an employment environment where employers have massive overhead and are forced to cut their losses, and the young suffer the worst. We have the same problem now here in America after 3+ years of European style Obamanomics.
And I don’t foresee things getting better for a long time, if they do, for most of us, but especially for the young. This will likely be the first generation of Americans to be worse off than their parents. The left would like you to believe that’s because they have not done more of that nonsense that has caused the problems in the first place, as the CNN article pointing out young people make less I link, does. And many amongst the young are buying into the anti-capitalist drivel by the “social engineering” class warrior, credentialed academic class that pretends people, by the virtue of being born, are entitled to anything and everything, at other people’s expense.
Here is some advice for the young joining the workforce: ditch the collectivist nonsense schools have been shoveling into your brains, and do that quickly quickly. It’s cool when you are young to actually let your emotions rule, and naïveté drive, your beliefs and actions. However, in the grown up world, believing in and acting out on this crap, only leads to failure followed by suffering, misery, jealousy, and greed. Unlike what the left’s bullshit has caused so many young people to believe, you are not entitled to a trophy just for showing, let alone being. Yes, the game is rigged against you. But you are a bigger fool if you believe the people that rigged it that way in the first place, when they use that class warfare nonsense to get you to believe they have the answer and want to help you. Fool me once: shame on me. Fool me twice… Well, you get the message. I sure hope you do, because if you don’t, the wounds are going to continue to be self inflicted.